A chip resistor has a pair of electrodes, a resistor substance, and an insulating film. The pair of electrodes containing silver as a main component are formed on a single surface of an insulating substrate. The resistor substance is formed on the single surface of the insulating substrate to make contact with both of the pair of electrodes. The insulating film covers the resistor substance while keeping parts of the pair of electrodes exposed. As to the chip resistor, sulfurization of the pair of electrodes has been regarded as a problem. It is because sulfurization of the pair of electrodes may likely lead to conduction failure or disconnection.
To solve this problem, for example, there has been proposed a technique in which a metal material containing silver and palladium is used as the metal material of the pair of electrodes to thereby suppress sulfurization of the pair of electrodes (see Patent Literature 1).